RIA holders: Apparantly RIA have 5 undeveloped oil/gas fields in it's C1-202 block of leases, and furthermore 10 offshore wells are due to be drilled in the next 12 months in the Cote d'Ivoire by varying international companies, one of which is Tullow Oil, which auger well for international focus on all the players-don't forget RIA plan to get listed on London's AIM market during the next 10 months.

Trading in the SPP shares start next Wednesday, be nice if we did not get scaled down. SP holding up very nicely, oil prices strong.

Maybe I'm too conservative (too conservative yet playing junior oil explorers...now there is an interesting psychological reflection???)I'm going for the ultimate, which I surely will miss!---becomming free carried!

Enjoy a red over the weekendThat is a given, since we have the usual 2 evening big bash for the corporate movers and shakers in the annual Leeuwin concert, not too keen on the main act, but will go anywhere (nearly) to get a live dose of James Morrison and his fabulous big band in a truly breathtaking vineyard setting complete with a backdrop of majestic trees and kookaburra's who usually join in!

Interesting to read your reflections upon the way investors/traders will play RIA.

I guess it is no secret that I almost always play the BESBS (or early stages as the drill bit goes down). In this case, that is my intention for RIA as well. If the discovery is wonderful, one can always re-enter based upon that SP and risk-reward analysis at the time if one sees fit. While RIA is more of a development project than wildcat, nothing in this game is a '100% sure thing'. You never lose money taking a profit.

B: I imagine the bulk of players will sell before any drilling results are known, "buy the rumour--sell the fact"---so any development difficulties come into the next phase of punters attention, IMO the very best profits of "making the company" are made from the above approach---ie phase 1 which we are now in.

B: I imagine the bulk of players will sell before any drilling results are known, "buy the rumour--sell the fact"---so any development difficulties come into the next phase of punters attention, IMO the very best profits of "making the company" are made from the above approach---ie phase 1 which we are now in.

Reading between the lines of the many broker reports on RIA's website, there's some vague references to the possible complexity of the target reservoir at Gazelle. This could lead to a more complicated development design.

The most recent transaction valued the 2C contingent resources at $1.70/bblThat was when RIA bought 21.25% of C1-202 from CLNR in 2010 for cash and scrip.

Of course Ted has had decades of putting things together and running highly successfull companies, I hope he has retained a nice holding in this his brainchild, I bookmarked it way back then when we discussed RIA after an annual CVN meeting.

Of course the other thing that Ted did (which nobody is paying the remotest attention to YET) was acquire for virtually nothing during the GFC the Phoenix lease for CVN in the Carnarvon basin, the similarity exists in that both leases contain hydrocarbons already, but both have to be proved up and then made commercial by developing them, this was his original format in Thailand when CVN was born, in other words find an asset with KNOWN potential and then set about proving that asset up. Same set up when he formed TAP--I have been a very early shareholder in all 3 and a founder member in the TAP IPO.

I can't be sure on the drill starting but given the current information around, I'd think all is fine. Even if they get to site, by the time they start it will be lucky to pre-date the SPP shares trading. Remember, in very recent times, (I think of CUE), traders were happy to climb on baodr as the drill bit goes down. This was also the case when MMR drilled. I think the psychology of this RIA will be similar. Therefore, even if the SPP shares start trading marginally after spud, it won't matter. I suspect that SP momentum will rise well into the drill.

I haven't worried about working out my new entry price until I know that we will get our full allocations. I have access to 3 private accounts (through family) so need to be sure that we get 100% . Just a quick calculation, I'd think my entry would be around 28c if I got everything.

Time to get a calculator out!

Your comment was one of the truest comments I have heard for a while: "tell you what thus is somewhat better then retreating from the market into 4% interest only situations--opportunities abound if you stay awake!"